Irwin Mitchell Advises On Company’s Third Deal in 18 Months

Reconomy, the Telford based provider of outsourced waste management services, has announced the acquisition of Cory Environmental’s national waste brokerage businesses.

The acquisition is the third for Reconomy since the start of 2015 and follows the purchase of Countrywide Waste Management Ltd and Network Waste.

The brokerage business, which includes Nationwide Skip Hire Limited trading as Skippy Nationwide, Skips @ Home Limited trading as Skip Hire UK and Cory Environmental Recycling Services Limited,  reported revenues of £13m for the year ending 2015 and employs 38 people.

Reconomy is the UK’s leading provider of outsourced waste management services to the construction, house building, infrastructure and industrial and commercial sectors.

As a result of the acquisition, Reconomy currently predicts pro-forma revenue of £125m by the end of this year.

Paul Cox, Group Managing Director of Reconomy said:

“Cory Environmental’s brokerage arm is a group of businesses we know very well being in such close proximity to ourselves - it's an important acquisition for us with a business that boasts an excellent customer base and one which complements that of Reconomy. The business has a strong focus on customer service and a company culture that we feel will not only to work well with Reconomy but also help us to grow and enhance our unique approach to waste management.

“The acquisition of the brokerage businesses from Cory Environmental Group further underlines Reconomy’s position in the waste management sector as an industry leader and demonstrates that businesses want more from a waste provider than simply disposing of their waste.”

The Birmingham office of national law firm, Irwin Mitchell, advised on the deal.

Expert Opinion
    “We are delighted to have advised Reconomy again on their third deal since the start of 2015. Its two recent acquisitions have provided a significant boost and this latest addition provides some exciting opportunities for strengthening its market position even further.”
Rob Laugharne, Partner